The State Budget Surplus Amounts to 180.9 Million Euros in the First Half of 2018
In the first half of 2018, the surplus of the Slovenia’s state budget amounted to 180.9 million euros. The largest share of budget funds was the income from taxes and fees totalling 4.139 billion euros. This is the main source of budget funding. This data is reported in the Government’s report adopted on 26 July 2018.
The income tax earnings in the reporting period amounted to 738 million euros, which is 12.7% more than in the first half of 2017. The corporate income tax earnings increased by 11% to 453 million euros. The receipts from VAT payment grew by 5.6% up to about 1.752 billion euros. The government officials explain these figures by improvement of labour market conditions and operating performance of companies, as well as the growth of domestic consumption.
According to current estimates, by the end of this year, the budget surplus will reach 227 million euros, as reported by the Government. The budget surplus projected for 2018 is 50.9 million euros.
In the first half of the year, budget revenues reached 4.753 billion euros, which is 4.4% more than in the same period last year, accounting for 49.1% of the projected revenues in 2018. During the reporting period, expenses amounted to 4.573 billion euros, which is 1.8% more than in the same period last year, making 47.5% of the projected total figure for 2018.
The expenditure part of the state budget in the first half of this year was formed as follows: funds for salaries and other social payments amounted to approximately 621 million euros, which is 4.8% more than in the same period in 2017; funds for the repayment of domestic and foreign debt obligations were provided in the amount of about 604 million euros, which is 8.2% less than in the same period of 2017. Debt service costs decreased due to active management.
The public debt, which at the end of 2017 was 28.74 billion euros (66.4% of GDP), reached 29.37 billion euros (63% of GDP) in the first half of 2018.
According to preliminary estimates, the total revenues of the state budget for 2018 may amount to 9.707 billion euros, and expenses – to 9.480 billion euros.